Purpose:

The Portfolio Holder for Finance presented a report from the Head of Finance, Governance and Assurance providing detail of the revenue and capital outturn position for Shropshire Council for 2017/2018.

Decision:

RESOLVED:

i.That it be noted that the Outturn for the Revenue Budget for 2017/18 is an underspend of £0.655m, this represents 0.12% of the original gross budget of £563.3m.

ii.That it be noted that the level of general balance after adjusting for the underspend and insurance position stands at £15.436m, which is above the anticipated level assessed in February 2017.

iii.That it be noted that the Outturn for the Housing Revenue Account for 2017/18 is an underspend of £0.007m and the level of the Housing Revenue Account reserve stands at £8.225m (2016/17 £9.031m).

iv.That the increase in the level of Earmarked Reserves and Provisions (excluding delegated school balances) of £8.026 in 2017/18 and the reasons for this, be noted.

v.That the level of school balances stand at £5.381 (2016/17 £6.280m), be noted.

vi.That net budget variations of £1.472m to the 2017/18 capital programme be approved, detailed in Appendix 5/Table 11 and the re-profiled 2017/18 capital budget of £59.748m.

Zhuhaixmy Children Bags PU Backpack Waterproofrose Students fPrimary Pink Bow School Leather vii.That the re-profiled capital budgets of £61.795m for 2018/19, including slippage of £10.140m from 2017/18, £25.986m for 2019/20 and £15.568m for 2020/21 be approved, as detailed in Appendix 5 /Table 15.

viii.That the outturn expenditure be accepted as set out in Appendix 5 of £49.608m, representing 83% of the revised capital budget for 2017/18.

ix.That retaining a balance of capital receipts set aside of £20.857m as at 31st March 2018 to generate a one-off Minimum Revenue Provision saving of £0.485m in 2018/19, be approved.